Economic Growth and Tax Relief Reconciliation Act of 2001


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Economic Growth and Tax Relief Reconciliation Act of 2001

Legislation in the United States that reduced marginal tax rates for most American taxpayers. For example, it reduced the lowest bracket from 15% to 10% and the highest from 39.6% to 35%. It also simplified tax consequences of gifts and retirement plans. Proponents of EGTRRA claim that such policies spur economic growth. Critics point to lost government revenues and claim that the tax cuts primarily benefited the wealthy.
References in periodicals archive ?
* Make permanent the technical modifications to the generation-skipping transfer (GST) tax rules enacted in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA).
Known as the Extender Act, WFTRA continues tax cuts from the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA).
The relief provided by the Marriage Penalty by the Economic Growth And Tax Relief Reconciliation Act Of 2001 provides most benefit to low to moderate income tax level married filing jointly taxpayers.
It also discusses the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) changes taking place in 2006, and annual inflation adjustments affecting the estate and gift tax.
Additionally, several limitations set by the Economic Growth and Tax Relief Reconciliation Act of 2001 are scheduled to increase at the beginning of 2006.
The Economic Growth and Tax Relief Reconciliation Act of 2001 was extended for some but not all purposes until September 30, 2003.
Amid the declarations of victory and chest thumping that accompanied enactment of the Economic Growth and Tax Relief Reconciliation Act of 2001, it was easy to miss some of the legislation's finer points.
According to a Congressional Research Service (CRS) Report for Congress, The Alternative Minimum Tax for Individuals (RL30149), the effects of the legislative reductions in the regular income tax due to the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) have caused more middle-income taxpayers to be subject to AMT.
In general, AB 115 conforms California tax law with the Economic Growth and Tax Relief Reconciliation Act of 2001; the Job Creation and Worker Assistance Act of 2002; the Jobs and Growth Tax Relief Reconciliation Act of 2003; the Medicare Prescription Drug, Improvement, and Modernization Act of 2003; the Working Families Tax Relief Act of 2004; and the American Jobs Creation Act of 2004.
IRC section 529 qualified tuition programs have become more popular due to Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) provisions that ended the taxing of distributions used to pay qualified higher education expenses.
Two articles share the Millennium Series spotlight in this month's annual High-Net-Worth issue, both of them focusing on the Economic Growth and Tax Relief Reconciliation Act of 2001. One article focuses on the Act's corporate and income tax provisions; the other article focuses on estate planning issues.
Also provided were the statutory dollar amounts that were reset or established by the Economic Growth and Tax Relief Reconciliation Act of 2001. The maximum limit for the Sec.
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